Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 39.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,814 shares of the biopharmaceutical company’s stock after selling 39,331 shares during the period. Pinnacle Associates Ltd.’s holdings in Gilead Sciences were worth $4,846,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in Gilead Sciences in the 2nd quarter valued at about $25,328,000. Legal & General Group Plc increased its position in Gilead Sciences by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after acquiring an additional 93,068 shares during the period. GSA Capital Partners LLP acquired a new position in Gilead Sciences in the 1st quarter valued at about $462,000. Wealth Enhancement Advisory Services LLC increased its position in Gilead Sciences by 13.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock valued at $19,630,000 after acquiring an additional 33,162 shares during the period. Finally, Cetera Investment Advisers increased its position in Gilead Sciences by 127.6% in the 1st quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock valued at $15,668,000 after acquiring an additional 119,909 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of analyst reports. Barclays lifted their price objective on Gilead Sciences from $76.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Truist Financial lifted their price objective on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Monday, July 8th. Sanford C. Bernstein initiated coverage on Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.85.

Gilead Sciences Price Performance

GILD stock opened at $88.82 on Friday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $89.74. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The stock’s 50 day moving average price is $83.54 and its 200 day moving average price is $73.97. The firm has a market cap of $110.66 billion, a P/E ratio of 246.72, a PEG ratio of 3.07 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 3.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,847 shares of company stock worth $3,033,340. Insiders own 0.16% of the company’s stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.